v3.26.1
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Net Interest Income        
Interest income $ 85,487 $ 112,272 $ 181,393 $ 226,239
Interest expense 67,305 82,101 137,022 164,727
Total net interest income 18,182 30,171 44,371 61,512
Other Income        
Revenue from real estate owned operations 4,371 4,025 9,315 6,914
Income (loss) from equity method investments (988) (619) (331) (820)
Change in net assets of consolidated variable interest entities, CMBS trusts 836 41 1,275 41
Gain (loss) on foreign currency translation (includes unrealized gains (losses) of $2,547 and ($2,829) in 2026 and $0 and $0 in 2025, respectively) 1,526 0 (3,851) 0
Gain (loss) on foreign currency forward contracts (includes unrealized gains (losses) of ($5,333) and $1,488 in 2026 and $0 and $0 in 2025, respectively) (4,194) 0 2,659 0
Gain (loss) on sale of real estate owned 0 1,192 0 1,192
Other miscellaneous income 1,214 1,061 2,108 2,248
Total other income 2,765 5,700 11,175 9,575
Operating Expenses        
Provision for credit losses, net 75,088 49,848 148,629 74,711
Change in fair value of loan held-for-sale 44,751 0 44,751 0
Expenses from real estate owned operations 8,406 6,178 16,528 11,652
Management fee to related parties 5,382 5,737 10,893 11,534
General and administrative 4,653 4,681 9,237 9,512
Total operating expenses 138,280 66,444 230,038 107,409
Income (Loss) Before Income Taxes (117,333) (30,573) (174,492) (36,322)
Income tax expense 0 0 0 0
Net Income (Loss) (117,333) (30,573) (174,492) (36,322)
Net income (loss) attributable to noncontrolling interests (978) (847) (1,997) (1,735)
Net Income (Loss) Attributable to KKR Real Estate Finance Trust Inc. and Subsidiaries (116,355) (29,726) (172,495) (34,587)
Preferred stock dividends 5,326 5,326 10,652 10,652
Participating securities' share in earnings 113 373 528 736
Net Income (Loss) Attributable to Common Stockholders (121,794) (35,425) (183,675) (45,975)
Net Income (Loss) Attributable to Common Stockholders $ (121,794) $ (35,425) $ (183,675) $ (45,975)
Net Income (Loss) Per Share of Common Stock        
Basic (usd per share) $ (1.95) $ (0.53) $ (2.89) $ (0.68)
Diluted (usd per share) $ (1.95) $ (0.53) $ (2.89) $ (0.68)
Weighted Average Number of Shares of Common Stock Outstanding        
Basic (in shares) 62,463,168 67,191,309 63,562,042 67,974,243
Diluted (in shares) 62,463,168 67,191,309 63,562,042 67,974,243
Dividends declared per share of common stock (usd per share) $ 0.10 $ 0.25 $ 0.35 $ 0.50